Am I at BIK by guaranteeing a loan? How do I delete an entry?
Hello. In 2012 I was a guarantor. This loan was not repaid by the main borrower only by me. In January, I downloaded the BIK report and this loan, although repaid, it appears in this report. At the end of the year, my husband and I want to apply for a loan to build a house and I’m afraid that it may thwart our plans.
I am asking for a hint, what should I do in this matter to make BIK clean?
Hello, you have found yourself in a very uncomfortable situation, because guaranteeing a loan to an irresponsible person has led to the fact that the case drags on behind you, even though so much time has passed.
Loan surety and data in BIK
As a guarantor of the loan, you appear in BIK, in the same way as the borrower, because in the same way as the main borrower you assumed the obligation to repay the liability if there was a delay in its repayment.
You write that the commitment was repaid late. This situation gives the possibility of data processing by BIK for the next five years from the closing of the liability (repayment). You already know why your BIK is still not clean.
Information in the Credit Information Bureau on unpaid loans how long?
How much longer your creditworthiness will not look sensational, taking into account the BIK rating, you can count yourself – five years from the date of repayment of the loan.
I hope that since you mention 2012, your data will soon disappear from the register and you will no longer have any problems with the loan that you and your husband are thinking about.
How to clean BIK?
What needs to be clarified is the fact that only the passage of time gives a chance for pure BIK. Because, unfortunately, I have to disappoint you that despite the many advertisements that you could see on the Internet. There is no practical or legal possibility to clean BIK.
However, if the five years I mentioned above have already passed and you are still in the register, you can ask BIK to update the data by removing them from the database.
BIK rating and creditworthiness decreased
However, I want to comfort you by writing that the BIK score is not always reduced, i.e. Scorign BIK must close your house construction plans. Of course, all “normal” banks reach for BIK reports, but the credit rating is also the amount of borrowers’ fixed earnings, the amount of fixed costs, and the proposed collateral.
Mortgage applications are always carefully and individually considered by the bank, and many factors are taken into account. You, as the guarantor, paid off the loan. This may be a circumstance which will be welcomed by the bank.